Accountants at Warner Co. use worksheets similar to the one shown in Exhibit 5–13. In the company’s most current year-end worksheet, the amounts transferred from the adjusted trial balance columns to the balance sheet and income statement columns are as follows.

a. What was the company’s net income for the year? 

b. What was the total amount transferred from the Adjusted Trial Balance columns to the Debit column of the income statement?

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Total amount transferred to the credit column of the balance sheet .. Total amount transferred to the debit column of the balance sheet.. Total amount transferred to the credit column of the income statement.... $410,000 540,000 380,000